I propose a new measure to study the law and economics of choice of law: ''relative use of law.'' Relative use of law measures the extent to which a state's laws are disproportionally over- or under-utilized in contract. It is constructed by normalizing the distribution of choice of law clauses by the extent of contracting activity within each jurisdiction. Using this measure, I study choice of law by analyzing the nearly 1,000,000 contracts that have been disclosed to the Securities and Exchange Commission between 1996-2012. These are all contracts that companies registered with the SEC deem ''material.'' I find that from 1996 to 2012, (1) only two states are relatively over-utilized: Delaware (an extreme outlier) and New York, and (2) there has been significant and robust convergence both in firms' choice of law and relative use of law toward Delaware, New York, and Nevada. I offer hypotheses for this convergence that are based on (1) lock-in effects of the choice of state of incorporation and (2) positive network effects of using the same law. I present suggestive evidence that lock-in effects explain convergence toward Delaware and Nevada, while network effects explain convergence toward New York.
Thursday, 6 February 2014
- 08:45 Arrival and registration
- 09:10 Welcome Angelika Fuchs
Chair: Pavel Simon
I. “BRUSSELS I” AND BEYOND
- 09:15 Jurisdiction and enforcement under Brussels I: recent CJEU case law Gilles Cuniberti
- 10:00 Discussion
- 10:15 The recast of the Brussels I Regulation: forthcoming changes and open issues Janeen Carruthers
- 11:00 Discussion
- 11:15 Coffee break
Chair: Jens Haubold
- 11:45 Cross-border service of documents & taking of evidence: recent CJEU case law and proposals for reform Pavel Simon
- 12:30 Discussion
- 12:45 Lunch
Chair: Janeen Carruthers
II. FACILITATING DEBT RECOVERY ACROSS BORDERS
- 14:00 The European Enforcement Order: recent CJEU and major national case law Jens Haubold
- 14:40 Discussion
- 14:50 European Order for Payment: a powerful tool in international debt collection David Einhaus
- 15:45 Coffee break
- 16:00 WORKSHOP Hands-on experience with the European Payment Order David Einhaus
- 17:00 Results of the workshop and discussion
- 17:30 End of the first conference day
- 18:15 Guided city tour
- 19:30 Conference dinner
Friday, 7 February 2014
Chair: Remo Caponi
III. IMPROVING ACCESS TO JUSTICE
- 09:00 Collective redress: latest developments after the Commission recommendation Ianika Tzankova 09:40 Discussion 09:50 Recovery of small claims: new ADR options, conciliation bodies and the European Small Claims Procedure, including its reform Xandra Kramer
- 10:30 Discussion
- 10:45 Coffee break
Chair: Gilles Cuniberti
IV. FREEZING OF BANK ACCOUNTS
- 11:15 The European Account Preservation Order (EAPO): upcoming changes Richard de Haan
- 11:45 Round table on the EAPO: Keeping the surprise effect…and protecting the debtor, plus: who carries the costs?
- Remo Caponi
- Richard de Haan
- Xandra Kramer
- Pavel Simon
- 13:00 Lunch and end of the conference
Professor Tanja Domej from the Faculty of Law at the University of Zurich is seeking to fill the position of a Research and Teaching Associate (PhD candidate). Candidates should have an excellent academic track record and should be interested in the chair’s main research areas (civil procedure, private law, private international law and comparative law). A thorough command of German is required. The successful candidate will have excellent knowledge of Swiss civil procedure or will at least be willing and able to acquire such knowledge quickly.
For more information click here.
- 8.45 – 9.15 Registration and Coffee
- 9.15 – 9.30 Opening
- 9.30 – 11.30 Session I Erin O’Hara O’Connor: Law markets in global commerce (Key note) Jan Smits: Law as a package: On the limits of choice
- 11.30 – 12.30 Lunch
- 12.30 – 14.30 Session II Giesela Rühl: Competition for contract laws: Fiction or reality? Dream or nightmare? Teemu Juutilainen: Competition theory for property law: From fragments to whole
- 14.30 – 15.00 Coffee
- 15.00 – 17.00 Session III Peter Cserne: National judicial styles: Do they persist and do they matter in a global law market? Katri Havu: No-one's law at the interface of EU rights and national remedies and procedure – insights
- 18.00 Seminar dinner at Spis (http://spis.fi/)
- 9.00 – 11.00 Session IV Gralf-Peter Calliess: Transnational private law: Between uniform law, legal pluralism, and competition of jurisdictions Lécia Vicente: Bringing the essence of lex mercatoria back: Evolving business practices, networking of market agents and competition as sources of European company law
- 11.00 – 12.00 Lunch
- 12.00 - 14.00 Session V Elaine Fahey: The EU as a direct and indirect rule-exporter and standard bearer: Between theory and practice Emilia Korkea-aho: Implementation of territorial laws in a global era: An emerging arena for regulatory competition
The German Arbitration Law of 1998 is particularly intended to meet the requirements of international commerce. One characteristic of international commercial disputes is a balance of power between the parties. However, structural imbalances between parties do occur not only in domestic and non-commercial disputes. In the recent years, issues raised by such imbalances in arbitration have received increasing attention in case law and legal scholarship in the United States. Tilman Niedermaier compares the law in Germany and the United States. Taking into account recent developments in EU law, he assesses to what extent the interests of parties with unequal bargaining power in arbitration can be safeguarded under German law.More information is available on the publishers website.
- Felix M. Wilke, Einführung, pp. 23 et seq.
- Erik Jayme, Kodifikation und Allgemeiner Teil im IPR, pp. 33 et seq.
- Rolf Wagner, Das rechtspolitische Umfeld für eine Rom 0-Verordnung, pp. 51 et seq.
- Michael Grünberger, Alles obsolet? – Anerkennungsprinzip vs. klassisches IPR, pp. 81 et seq.
- Giesela Rühl, Allgemeiner Teil und Effizienz. Zur Bedeutung des ökonomischen Effizienzkriteriums im europäischen Kollisionsrecht, pp. 161 et seq.
- Helmut Heiss/Emese Kaufmann-Mohi, ”Qualifikation“ Ein Regelungsgegenstand für eine Rom 0- Verordnung?, pp. 181 et seq.
- Gerald Mäsch, Zur Vorfrage im europäischen IPR, pp. 201 et seq.
- Oliver Remien, Engste Verbindung und Ausweichklauseln, pp. 223 et seq.
- Heinz-Peter Mansel, Parteiautonomie, Rechtsgeschäftslehre der Rechtswahl und Allgemeinen Teil des europäischen Kollisionsrechts, pp. 241 et seq.
- Marc-Philippe Weller, Der ”gewöhnliche Aufenthalt“ – Plädoyer für einen willenszentrierten Aufenthaltsbegriff, pp. 293 et seq.
- Martin Gebauer, Stellvertretung, pp. 325 et seq.
- Jan von Hein, Der Renvoi im europäischen Kollisionsrecht, pp. 341 et seq.
- Florian Eichel, Interlokale und interpersonale Anknüpfungen, pp. 397 et seq.
- Hans Jürgen Sonnenberger, Eingriffsnormen, pp. 429 et seq.
- Wolfgang Wurmnest, Ordre public, pp. 445 et seq.
- Eva-Maria Kieninger, Ermittlung und Anwendung ausländischen Rechts, pp. 479 et seq.
- Stefan Leible, Hannes Unberath, p. 503